Murrumbidgee Turf Club (MTC) has delivered another outstanding result for the latest financial year.
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MTC announced an all-time record surplus of $358,237 at the club’s annual general meeting on Tuesday night.
The stunning result consolidates MTC’s strong position after profits of $295,602 and $301,701 in the previous two financial years.
It is the sixth consecutive surplus the club has recorded.
The record surplus was delivered despite the deduction of $139,325 in depreciation.
MTC president Stuart Lamont was delighted to announce such an excellent result.
“It was an amazing year,” Lamont said.
“It’s a really good result and credit must go to the management team, who have done very well.”
Lamont was re-elected unopposed as president for a 13th term on Tuesday night. Michael Inglis and Rodney Parsons OAM were also re-elected unopposed to the vice-president and treasurer’s roles respectively.
The 12-person board will also remain unchanged.
Lamont said it is the strongest position the club has been in during his tenure as president.
“Most definitely, the MTC is leading the way as far as country race clubs are concerned,” he said.
“In saying that, clubs are a lot stronger across the board due to the funding that is available. Country racing is now in a lot better state and clubs are taking advantage of that.”
Included in this year’s surplus was one-off funding received for improvements to the mounting yard and toilet amenities.
The result was delivered despite the washout of two of the club’s biggest events – Ag races and Wagga picnics.
MTC still hosted 26 race meetings for the year, for total TAB turnover of $26,723,400.
The inaugural Rock At The Races delivered MTC a $45,000 profit and non-racing revenue is an area the club hopes to grow in the next 12 months.
The MTC’s next major project in the pipeline is the construction of on-course stables, which Lamont said despite the size and complexities of the operation, ‘will happen’.
Lamont also praised the MTC staff, headed by chief executive Scott Sanbrook and track manager Mark Hart, for their efforts in ensuring the success of the club.